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Reagan Corp. has reported a net income of $829,500 for the year. The company's share price is $12.63, and the company has 311,640 shares outstanding.

Reagan Corp. has reported a net income of $829,500 for the year. The company's share price is $12.63, and the company has 311,640 shares outstanding. Compute the firm's price-earnings ratio up to two decimal places.

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